Not actually having the full amount of capital…Vitalik Buterin Ioi… so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved actually vital you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs actually important to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling alright so commission costs are complimentary however there are a couple of other charges the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a charge to bear in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say give me us dollars instead you need to pay their costs now the fantastic feature of however when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not definitely restrict you in any way however we need to be aware of two other costs the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Ioi.
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